Atleaf interim results August 2017
Revenue for the interim period rose to GBP12.0 million (GBP10.3 million) whilst operating income grew to GBP10.4 million (GBP8.5 million). Profit was higher at GBP6.4 million (GBP5.2 million). Furthermore, headline earnings per share improved to GBP4.96 pence per share (4.77 pence per share).
The board of Atleaf announced an interim dividend of GBP4.5 pence per share for the six months ended 31 August 2017. Further information regarding the interim dividend, including salient dates and exchange rates, will be announced in due course on or around 31 October 2017.
As announced on 12 September 2017, the company is expecting to achieve the forecasted full year distribution of 9.1 GBP pence per share, which would represent a 7.1% increase on the prior year. This forecast is based on the current portfolio, the investment of the surplus cash and no material change in market conditions. This forecast has not been reviewed by the external auditors.
The UK commercial property sector remains very active despite the uncertainty around BREXIT. Demand is strong and the Company is confident that it will be successful in continuing to grow its property assets under management which now exceed GBP 350 million (2016: GBP 264 million).
The strong forward property yield of 7.3% on our portfolio is underpinned by high quality commercial and industrial properties in excellent regional locations throughout the United Kingdom with long term leases from high quality tenants.